Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: loantech who wrote (21966)	11/16/2002 11:49:54 AM
From: Square_Dealings	Read Replies (3) of 36161

<maybe the market does want to provide us with a strong rally for a few months.> The market is the Fed at this point imo. This rally is based on the federal reserve injecting between $5 and 12 Bln a day, providing loans to the banks so they can buy the market. I follow this site daily to see what they are up to, but there is a strong correlation with how much the fed puts in and how much the market goes up. app.ny.frb.org If you scroll down you can see the major ramping of fed injections began around the end of October. Anyway in my opinion the rally is an illusion, based on yet more borrowed money. Its and extension of the credit bubble and will end badly.

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